Chickasaw Capital Management LLC Purchases 31,663 Shares of Hess Midstream Partners LP $HESM

Key Points

• Chickasaw Capital Management LLC increased its stake in Hess Midstream Partners by 36.4%, now holding 118,663 shares valued at approximately $4.57 million.
• Hess Midstream Partners has reported a quarterly EPS of $0.74, surpassing analyst expectations, with a year-over-year revenue growth of 13.3% to $414.20 million.
• The company declared a quarterly dividend of $0.737, an increase from the previous dividend, reflecting a 7.5% yield based on its current share price.

Chickasaw Capital Management LLC raised its holdings in Hess Midstream Partners LP (NYSE:HESM - Free Report) by 36.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 118,663 shares of the company's stock after buying an additional 31,663 shares during the period. Chickasaw Capital Management LLC owned 0.06% of Hess Midstream Partners worth $4,570,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the company. Stokes Capital Advisors LLC increased its holdings in shares of Hess Midstream Partners by 4.5% in the second quarter. Stokes Capital Advisors LLC now owns 156,762 shares of the company's stock valued at $6,037,000 after purchasing an additional 6,788 shares during the last quarter. NBC Securities Inc. raised its stake in Hess Midstream Partners by 6.4% in the second quarter. NBC Securities Inc. now owns 29,674 shares of the company's stock valued at $1,142,000 after purchasing an additional 1,795 shares in the last quarter. Fractal Investments LLC lifted its position in shares of Hess Midstream Partners by 23.8% during the 2nd quarter. Fractal Investments LLC now owns 291,247 shares of the company's stock worth $11,216,000 after buying an additional 56,000 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of Hess Midstream Partners in the 2nd quarter valued at $25,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in shares of Hess Midstream Partners by 20.2% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 224,741 shares of the company's stock valued at $9,504,000 after acquiring an additional 37,794 shares during the last quarter. 98.97% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, COO John A. Gatling sold 62,457 shares of the business's stock in a transaction that occurred on Tuesday, August 12th. The shares were sold at an average price of $41.59, for a total value of $2,597,586.63. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on HESM. Wells Fargo & Company cut Hess Midstream Partners from an "equal weight" rating to a "reduce" rating in a research note on Friday. JPMorgan Chase & Co. increased their price target on shares of Hess Midstream Partners from $44.00 to $46.00 and gave the stock a "neutral" rating in a report on Friday, August 22nd. Citigroup reiterated a "neutral" rating and issued a $41.00 target price (down from $42.00) on shares of Hess Midstream Partners in a research note on Thursday, September 11th. UBS Group reiterated a "neutral" rating and issued a $43.00 price objective (down previously from $45.00) on shares of Hess Midstream Partners in a research report on Wednesday, September 10th. Finally, Morgan Stanley began coverage on Hess Midstream Partners in a report on Friday, July 25th. They issued an "equal weight" rating and a $48.00 price target on the stock. One equities research analyst has rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $43.67.

Hess Midstream Partners Trading Down 10.3%

HESM traded down $4.07 during trading on Friday, hitting $35.41. 6,833,386 shares of the stock traded hands, compared to its average volume of 1,360,762. The firm has a market capitalization of $7.44 billion, a P/E ratio of 13.11 and a beta of 0.68. The company has a debt-to-equity ratio of 7.26, a current ratio of 0.71 and a quick ratio of 0.71. The firm has a 50-day moving average of $40.66 and a 200 day moving average of $39.47. Hess Midstream Partners LP has a 12-month low of $33.59 and a 12-month high of $44.14.

Hess Midstream Partners (NYSE:HESM - Get Free Report) last announced its earnings results on Wednesday, July 30th. The company reported $0.74 earnings per share for the quarter, beating analysts' consensus estimates of $0.56 by $0.18. The firm had revenue of $414.20 million for the quarter, compared to analyst estimates of $405.08 million. Hess Midstream Partners had a net margin of 18.52% and a return on equity of 60.37%. The company's revenue for the quarter was up 13.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.59 EPS. Equities research analysts anticipate that Hess Midstream Partners LP will post 2.5 EPS for the current year.

Hess Midstream Partners Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, August 14th. Investors of record on Thursday, August 7th were given a dividend of $0.737 per share. This represents a $2.95 annualized dividend and a dividend yield of 8.3%. This is an increase from Hess Midstream Partners's previous quarterly dividend of $0.71. The ex-dividend date of this dividend was Thursday, August 7th. Hess Midstream Partners's payout ratio is 108.89%.

Hess Midstream Partners Profile

Hess Midstream LP owns, develops, operates, and acquires midstream assets and provide fee-based services to Hess and third-party customers in the United States. It operates through three segments: Gathering; Processing and Storage; and Terminaling and Export. The Gathering segment owns natural gas gathering and compression systems; crude oil gathering systems; and produced water gathering and disposal facilities.